3D Systems beats Q4 expectations
3D Systems on Wednesday published its fourth quarter and full fiscal year 2017 financial results, beating market expectations.
The company reported fourth quarter non-GAAP earnings of 5 cents per share on revenue of $177.3 million. A year prior, it reported non-GAAP earnings of 15 cents per share on revenue of $165.9 million.
Wall Street was looking for non-GAAP earnings of 0 cents per share on revenue of $163.47 million.
In a statement, CEO Vyomesh Joshi (VJ) said revenue growth was driven by health care, materials, software and on-demand manufacturing, as well as more balanced regional execution.
"While we still have work to do, we made significant progress last year, and we believe our investments in go-to-market combined with improved processes and better execution have started to show returns and position the company well going forward," Joshi said.
For the full fiscal year 2017, 3D Systems reported a non-GAAP loss of 2 cents per share on revenue of $646.1 million.
"We made significant progress in 2017 to stabilize and turn around the company, and we put in place the foundation for scalable growth," Joshi said. "This is a multi-year transformation process, but we are pleased with the progress we have made thus far to position the company for long-term growth and profitability."